How to Raise Funds for Anything You Want
Did you know it’s now easier to raise funds for anything you need? You can pay your medical bills, college loan, debts, even fund a project, product or charity. The list goes on thanks to Crowdfunding networks like SmashFund.
Crowdfunding is still relatively new, so getting on the bandwagon now will mean more funds for you. Jumping on board before these fundraising platforms get too popular will be the greatest thing you could ever do in life. Many people think you can only raise funds in your own country but that’s not the case.
It’s now global funding, whereas funds can be raised from many countries through crowdfunding networks. This increases the chance of getting more funding quicker. But you want to be part of this growing opportunity before many people worldwide (growing competition) ask for the same funding project you are asking.
Problems with Many Crowdfunding Websites
Researching to find a good crowdfunding networks that meet the type of funding for a project, product, or charity you want is key. Not all crowdfunding websites are suitable. However, there are many downsides to factor in when choosing a fundraising website to get private funding.
Unfortunately, many of these sites including the best crowdfunding websites are simply too expensive. You have to pay heavy crowdfunding fees, 4-5% when funds are raised. Pay high payment processor fees when funds are raised.
For instance, PayPal can charge anywhere from 3% to 5% in fees when funding is received/transferred. On top of that, some funding networks charge 20 to 30 cent per pledge or transaction. Smashfund does the opposite, which I’m going to tell you more about them later.
Another negative when using crowdfund networks is the failure rate. Around 89% of fundraisers fail to meet their funding goals. This means you have a 11% chance in obtaining your funding goal if you are new to this. Not only is this devastating, but many crowd fund networks have funding/posting restrictions.
For instance, you must meet a predetermine deadline date to raise money for your fundraising campaign. It’s an ‘All or Nothing’ policy, whereas you meet meet your fundraising goal for a specific end date. Otherwise, all pledges get rescinded back to the funders and you get no funding. All your hard work and effort go down the drain, which attributes to the high failure rate.
These are just some of the downsides when choosing a crowdfunding website. The best way to approach this, especially when new to raising funds, is Smashfund donations. And I’ll tell you why.
What Is Smashfund?…
Smashfund: Crowdfunding and Social Revenue Networks
Smashfund is the first crowdfunding platform that includes social network revenue sharing. There are two ways to generate funds/donations where one can do so strikingly fast. You don’t pay heavy crowd funding fees and they don’t use a payment processor, like PayPal. Smashfund only charges a 2.9% fee plus .30 cents per transaction.
Lets do the math when comparing Smashfund with other crowd fund websites
- 4-5% crowdfund fee (funds raised: $100,000 x 5% = $5,000)
- 3-5% payment processor fee (funds raised: $100 x 3-5% = $3,000-$5,000)
- .20 or .30 cents per pledge/transaction (100 pledges/transactions x .2-.3 = $20-$30)
Total Cost: Up to $10,030.00
- $150.00/month membership fee ($1,800/yr. *** this doesn’t have to come out of your pockets)
- 2.9% crowd fund fee (Funds/donations raised: $100,000 x 2.9% = $2,900)
- .30 cents per transactions (100 transactions x .3 = $30)
Total Cost: $2,930.00 + $150.00 per month
You don’t need to worrying about paying the $150/month membership fee long-term. When you become a Smashfund member, you have the option to cash in on their social revenue sharing network. I advise you to do exactly that. Here’s why… You invite people into your network (under you), whereas they pay $150 per month to Smashfund (same as you).
This is optional. There is nothing wrong with focusing on just your fundraising campaign. But think about this…
You get $50 per invite/signup who pays his/her $150. This residual monthly income, offers additional funding that pays you $50 per month for each invite/signup who pays $150 per month. Now do the math. Three invites/signups will give you $150 per month and this is how the out of pocket monthly cost of $150 becomes zero.
But that’s not all… You now know what is paid out for direct connections (people) you personally invite to your network. Each person in your network can also directly invite someone under their network so that no one loses out. When they invite others this is called your viral connections, whereas you get paid an additional $4 per month for each viral signup.
Also keep in mind the funds you receive are not pledges. These are donations that are paid to you on a weekly basis.
You are allowed five projects when joining SmashFund. Each project can have up to 16,000 connections. Let’s do the math again… 16,000 connections x $4/month = $64,000. This is an additional amount that a member can received each and every month, when taking advantage of the social revenue sharing network. All this while your crowd fund campaign is bringing funding.
Benefits When Using SmashFund:
- No time limits
- No goal requirements
- No high percentage taken from contribution (Only 3rd party Stripe [payment processor] fee of 2.9% + .30 cents per transaction apply)
- No increased fees for not achieving goal
- No annual commitment
- Funds deposited weekly
- Change out your passions & projects freely
- Non-Profits welcome
- Social revenue sharing (make residual income up $64,000/month)
If you need funding for a product (need patent money or whatever) and want to get funding/donations quickly, SmashFund allows you to offer company/product shares to the doner, if that’s something you want to do.
SmashFund takes a small percentage of you $150 per month fee put the remainder amount into the network to help generate funds. You are obligated to no one and can stop using this crowd funding network at anytime. But doing so will cause you to lose passive income made from direct/viral connections in your network.
Whether or not you want to raise fund, you cause just focus on building your social revenue sharing network. when looking at the advantages of Smash Fund compared to popular crowdfunding networks, you save a lot more money, without restrictions. The funds you receive will be sent to your bank account.
SmashFund is legit. They are legal in two countries right now — USA and Canada. Soon they will be legalized in India and Australia. By 2017, they expect to be legal in many more countries. This means more fundraisers and funders will come so that your project receives and more funding faster. This will definitely enhance the social revenue sharing network more.
As I said before this funding site is legal. Once you have met the income threshold, it will be reported to IRS. You will receive a 1099 form for your tax filing.
The reason why the failure is lower when using SmashFunding is that you are paid weekly for funding you obtained. There is no restriction when not meeting a set funding goal. There is no time frame where you must meet your funding goal. You can leave your funding campaign forever if you want. You hard work (time and effort) will never be ditched because you didn’t meet your funding goal amount.
Is SmashFund Worth the Investment?
I’ve already joined SmashFund which is still in pre-launch mode. When signing up, your credit card will be required. However, you will not be billed until sometime in July 2016. You have time to start working on your crowdfunding project as well as building your social revenue sharing network connections. As for the latter, you can be working building your connections to pay the $150 per month membership.
For what it’s worth, this SmashFunder network is a no-brainer. They give you two different ways to raise funds and avoid paying the $150 out of pocket cost. Whether or not you are new to crowdfunding, you now have way to keep to most of the money you raise and make more while in the process.
My first crowdfunding project will need to raise $4-5 million. This is a rather large project and I may not reach this amount but I can let my fundraising campaign run indefinitely. I could also use some of the funds raised to create a crowdfunding campaign on some of the more costlier funding websites, including top crowdfunding sites, like Kickstarter, that have a much larger network. When SmashFund becomes legal in many countries, my funding goal may be more reachable.